Chapter 13: How to pay debts on limited income
CHAPTER 13 is the section of the US Bankruptcy Code that allows individuals in the United States to reorganize their finances. If you are having difficulty paying your debts (credit…
Category: Business
Covering the week’s most noteworthy business news impacting the Filipino-American and Global Filipino community.
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A Fully Charged Venture
IT’S one of the biggest pet peeves in the world. Imagine traveling for business or leisure and rummaging through your suitcase, only to realize that you’ve forgotten your cell phone…
Jury awards over $21 million to employee discriminated for disability
Q: CAN an employee be legally fired for job abandonment due to absence caused by an illness? Should the employer provide the employee with reasonable accommodations? A: California’s Fair Employment…
10 tips in deducting charitable contributions
1. YOU may deduct donations to qualified organizations. Qualified organizations include corporations or foundations organized in the US for religious, charitable, educational, scientific, literary, or prevention of cruelty to children…
Short sale lenders paying off your liens and giving cash back as much as $5,000 or more
WHAT I will discuss on the second portion of this article will be about HAFA (Home Affordable Foreclosure Alternative) which will typically offer a qualified seller $ 3,000 at closing…
Discharging income taxes in bankruptcy: Part 2
LAST week, we established the fact that back due income taxes can be discharged in bankruptcy, despite the popular belief that this was not possible. We said that there are…
Chapter 13 can be last hope for families facing foreclosure
FILING Chapter 13 bankruptcy is often a last resort for people in foreclosure when no other options exist. A lot of homeowners usually put off making this decision for a…
Me-Too’ evidence allowed in sex discrimination claim
Q: MY boss at work would slap or touch my buttocks, make comments about my breasts, or other parts of my body, and tell me to wear shorter skirts. He…
Part B – Business
THIS fiscal cliff legislation includes lots of tax changes; accordingly, I summarized the provisions for simple reading. Last week’s Part A dealt with individuals while this week’s Part B deals…
Changes in loan modification programs for 2013
Homeowners Bill of Rights IN JULY, California enacted the major pieces of legislation, which were introduced by Attorney General Kamala Harris. These provision, which will take effect January 1, 2013,…
Discharging income taxes in bankruptcy
MANY people have the mistaken belief that back due income taxes cannot be discharged in bankruptcy because a debt owed to the Federal and State government cannot be wiped out….
Have you depleted your savings to pay debts?
LIKE most people, you’ve worked hard and have done your best to pay all your bills on time. But in life, at one time or another, all of us get…
Small Part, Big Results
FILIPINOS support other Filipinos. However, sometimes, that could be a bad thing. Just ask Rob Bautista Villeza, who is an Assistant United States Attorney for the Office of the United…
Small Part, Big Results
FILIPINOS support other Filipinos. However, sometimes, that could be a bad thing. Just ask Rob Bautista Villeza, who is an Assistant United States Attorney for the Office of the United…
Should property owners be liable for injuries committed by criminals in their premises?
MING Qu and Ying Wu were from China and enrolled at the University of Southern California (USC) to study electronic engineering. They were fatally shot while sitting in a parked…
Part A2 –Individuals
THE AMERICAN TAXPAYER RELIEF ACT OF 2012 Tax breaks for education expenses American Opportunity Higher Education Tax Credit extended The American Opportunity Credit, which can be worth up to $2,500…
12-year old Pinoy flies 1979 Piper plane
For 12-year-old Jervin Barcenas, getting on an airplane is one thing. However, being able to fly one is an entirely different story. A student of Saint Anne Catholic School in Santa…
How long will it take for my property value to come back up?
What are my options? AS I have mentioned on my previous columns before that if you are in a position where your property value is much lower than your current…
Keeping boat, camper, trailer & tractor might be abusive in Chapter 7
IF YOU look at a boat, a camper, a trailer and a tractor separately and as individual items they may not be considered as badges of a luxurious lifestyle. But…
Sibling rivalry in the family business
Comparison is a death knell to sibling harmony. – Elizabeth Fishel (Part 2) I WILL conclude my article related to sibling rivalry. Behavioural research have shown that emotion-based sibling rivalry…
Reduce stress by reducing your debt
DO you dream of simplifying your life, reducing your stress and regaining control of your financial future? Everyone dreams of living a debt-free life and yet we know that today,…
Employee fired due to discrimination and poor job performance
WYNONA Harris was hired to drive Santa Monica’s Big Blue Bus. About 40 days into her training period, she had an accident, which the City said was “preventable.” About three…
Part A1 – Individuals
THE AMERICAN TAXPAYER RELIEF ACT OF 2012 THIS fiscal cliff legislation includes lots of tax changes that could turn into a novel; accordingly, I summarized the provisions for simple reading….
Can you buy a home after bankruptcy, short sale or foreclosure?
THERE’S no question the economy has not been kind for many California families who bought and borrowed more than they can chew in the mid 2000s’. Bad things happen to…
A Chapter 13 plan should correspond with disposable income of means test
THERE is always a conflict between actual expenses and expenses allowed in the means test. Actual expenses are usually more than those allowed by the means test. As between actual…
The worst mistake you can make when facing foreclosure
YOU already know that your home is in foreclosure. You’ve received that dreaded Notice of Default. You know that after 90 days, your home can be scheduled for a Trustee…
Should employees be paid for preparatory and concluding activities at work?
Q: WORKING in a processing company, I am required to put on a special uniform and undergo sanitary inspections before I can start work. I have to come to work…
Do-it-yourself credit fix
LIKE most people, you’ve probably had your fair share of financial indiscretions: a few pricey shoes, a car bigger than what you really need, a few frivolous pieces of furniture,…
Husband loses $9,000 to BK trustee when bride files for Chapter 7
THE advantage of a prenuptial agreement is clear when one of the spouses files for Chapter 7 bankruptcy soon after the marriage. But even in a community property state, money…
Mediating mouth misery
If it’s knocked out, the first thing to do is find your tooth and, holding it by the crown, gently rinse off the root of the tooth with clean water….